SEOUL, Feb. 22 (Korea Bizwire) — The South Korean government said Friday it will move to lift regulations to pave the way for the country’s No. 2 chipmaker SK hynix Inc.’s to build a semiconductor cluster in the Seoul metropolitan area. The Ministry of Trade, Industry and Energy said it plans to request the Ministry [...]

SEOUL, Feb. 22 (Korea Bizwire) — Heads of SK Group and Samsung Electronics are expected to attend the annual Boao Forum for Asia opening next month in China as invited guests, corporate officials said Friday. Commonly referred to as the Asian edition of the Davos Forum, the conference is scheduled from March 26-29 in Boao [...]

SEOUL, Feb. 21 (Korea Bizwire) — BMW Group Korea said Thursday that it will retroactively apply lemon laws on its vehicles sold from January in a move to boost sales in Asia’s fourth-biggest economy. The Korean version of lemon laws went into effect from Jan. 1, 2019, to enhance customers’ convenience, though it is not [...]

SEJONG, Feb. 21 (Korea Bizwire) — South Korea’s household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday. An average household earned 4.6 million won (US$4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea. The [...]

SEOUL, Feb. 21 (Korea Bizwire) — SK hynix Inc., the world’s second-largest memory chip maker, said Thursday it has officially expressed interest in creating a semiconductor cluster in Yongin, Gyeonggi Province, about 50 kilometers south of Seoul. A special purpose company has submitted a letter of investment intent, for investing in Yongin, to the city’s [...]

SEOUL, Feb. 21 (Korea Bizwire) — The price of popular dishes rose about 8 percent over a one-year period, the Korea Consumer Agency said Thursday. Posted on the agency’s price information site, the list of eight dishes measured between January of last and this year showed price increases for seven. “Gimbap,” a rice roll with [...]

SEOUL, Feb. 20 (Korea Bizwire) — The government plans to let banks open their payment systems to financial technology firms, in a move that would provide a level playing field for new players and increase competition in the financial industry, officials said Wednesday. The plan was announced at a meeting chaired by Finance Minister Hong [...]

SEOUL, Feb. 20 (Korea Bizwire) — Seven out of 10 South Koreans voted in favor of using atomic power, a survey showed Wednesday, amid the Moon Jae-in government’s nuclear phase-out policy. The survey was conducted on 1,000 people aged over 19 to study public opinion on the government’s nuclear policy, the Korea Nuclear Society (KNS) [...]

SEOUL, Feb. 20 (Korea Bizwire) — A gasoline-burning automobile consumed an average 1,159 liters last year, down 2.4 percent from a year earlier, as drivers cut back on spending probably to cope with high prices, industry data showed Wednesday. According to the Korea Petroleum Association, the figure marks the lowest since 2006, when the comparable [...]